Blend launches independent insurance agency

by Francis Monfort07 Aug 2018

Digital lending platform Blend has introduced Blend Insurance Agency as part of its goal to deliver a frictionless home buying experience for consumers.

Through the independent insurance agency, borrowers can shop for and purchase homeowners insurance digitally within the mortgage application process.

As part of the launch, Blend has partnered with nationwide providers, including MetLife, Stillwater Insurance, and Swyfft.

With the new offering, borrowers should obtain an insurance quote and bind their homeowners insurance policy faster. The offering seeks to prevent last-minute scrambles at closing as borrowers can already access the option early in the buying process.

Additionally, the agency integrates with Blend’s mortgage application software, allowing it to automatically provide lenders with evidence of insurance. This helps save loan processors time spent on calls to insurance providers, which usually entail waits of several days.

Blend has appointed Greg Isaacs as head of insurance to head Blend Insurance Agency. A new office in Los Angeles has also been set up. Blend will staff the office with experienced insurance professionals ready to help borrowers understand homeowners insurance and find a policy tailored to their specific needs. Borrowers can reach the team by phone, chat, or email.

“We see our new insurance agency as an exciting step forward to further remove friction from the homebuying process and improve customer satisfaction,” Isaacs said. “We believe it will be better for our lenders, their borrowers, and the insurance providers we work with and will help to make the process of buying a home a little less daunting.”

 

Related stories:
Blend introduces computer visioning functionality
Veritas Funding partners with Blend for electronic disclosures

 

 

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